Canadian Business Travel Rebounds

Industry Outlook and Forecasts

Regular Disruptions Become the Norm

Frequent disruptions have become an unfortunate reality in Canadian business travel, just as the sector begins to recover from the pandemic. This has left many businesses with travel hesitancy, leading to a slower return to pre-pandemic levels of business travel.

Strong Future for Business Travel

Despite the current challenges, the outlook for business travel in Canada remains strong. The latest forecasts predict robust growth in 2024, outpacing both global and US markets. This is driven by a pent-up demand for face-to-face interactions and the increasing importance of in-person networking.

Virtual Meetings Still Prevalent

While business travel is expected to rebound, virtual meetings are likely to remain prevalent in the short term. In Canada, virtual gatherings are expected to continue as the norm until at least mid-2023. This is due to ongoing concerns about the pandemic, as well as the convenience and cost-effectiveness of virtual platforms.

Optimism for the Future

Despite the disruptions and challenges faced by the travel industry, there is optimism for the future. The report from the Canadian Travel and Tourism Roundtable highlights positive survey results, indicating that business travelers are eager to return to in-person events. With the right strategies in place, the Canadian business travel sector is well-positioned for growth and success in the years to come.